Malaysia’s Islamic Capital Market Anticipated to Strengthen with Continuous Promotion and Digitisation: Ministry of Finance

Data from the Ministry of Finance (MoF) as reported in its Economic Outlook 2021 report released on the 6th of November 2020, showed that Malaysia’s Islamic banking industry had grown to a 33% market share as at end-July 2020, with total assets valued at MYR 1.03 billion, and total Islamic finance outstanding at MYR 787.8 billion. According to the MoF, this growth was mainly attributed to financing of residential property purchases amongst the household sector, which increased by 8.7% YoY to MYR 490.9 billion.

Meanwhile, Malaysia’s Islamic Capital Market (ICM) also reported strong performance according to the Economic Outlook 2021 report, valued at MYR 2.2 trillion as at end-July 2020, and accounting for 66.2...